The Brazilian Institute of Cost Engineers was founded on May 27, 1980 as an
independent organization for Brazil. Prior to that time it had been a Section of
AACE International.

In recent years IBEC was relatively inactive due to the severe economic
problems which existed in Brazil. After a long period of high inflation, prices
in Brazil have now stabilized and IBEC is resuming its efforts to gain
membership and to create regional sections throughout the country. IBEC’s
objectives are to:

Rebuild the organization with a growth in membership;

Enlarge IBEC’s influence in Brazil and increase the number of IBEC Sections;

Improve collaboration with similar associations throughout the world with
the support of ICEC; and

Aid in development of technical procedures for Brazilian cost engineering
with the support of the Brazilian Association of Technical Procedures (ABNT).